My first flip in Ocala

[Erika Vargas]

Investment Info:

Single-family residence fix & flip investment in Ocala.

Purchase price: $70,000

This was my first real estate flip. I was scared to make the jump and did not have enough cash. I actually partnered up with investors who had the cash and I did all the leg work.

What made you interested in investing in this type of deal?

I love real estate! I live, eat, and breathe real estate. I was so excited when I knew I had a deal.

How did you find this deal and how did you negotiate it?

The deal was on the MLS. I was the first one to see it and I offered the agent my commission.

How did you finance this deal?

Partners!

How did you add value to the deal?

I did all the leg work. Found the deal, and managed the rehab.

What was the outcome?

The rehab came out amazing. We did a short term lease and now we are getting ready to list it!

Lessons learned? Challenges?

Be very clear with your contractor, and also buy all the materials ahead of time! I was going to Home Depot and Lowe's daily. I could have been better prepared.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, my partner is a real estate lawyer.

[Erika Vargas]

Hi @Michael Mims I am glad to finally say that we successfully flipped it! We officially closed this week and my investors and I were very happy with the profits. We even sold 15k over what we originally thought. Overall, great experience. I am now in the process of buying 2 rentals and build that real estate portfolio!